President and Fellows of Harvard College
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION AND RESEARCH ACROSS A BROAD ARRAY OF ACADEMIC DOMAINS.
- Income
- $8.3 billion
- Spending
- $7.2 billion
- Spent on programs
- 86%
- Reserves
- 13.2 months of spending
- Largest source of income
- investment income, 47%
- Employees
- 39,590
- Volunteers
- 10,000
- Highest pay
- $2.0 million, faculty
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 96 out of 100. Higher than 90% of charities in its peer group (education, over $100m).
Reserves
35 of 35Spendable reserves would cover 13.2 months of spending.
Debt
16 of 20It owes 17% of what it owns.
Living within its means
15 of 15Income exceeded spending by 13% of income.
Income trend
15 of 15Income rose 9% on the year before.
Spending floor
15 of 1586% of spending went to programs and raising each dollar of donations cost 13 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 90 out of 100. Higher than 14% of charities in its peer group (education, over $100m).
Independent board
25 of 2511 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $5.3 billion spent. EDUCATION AND OTHER INSTITUTIONAL ACTIVITIES: HARVARD UNIVERSITY (THE "UNIVERSITY") IS A PRIVATE, NOT-FOR-PROFIT INSTITUTION OF HIGHER EDUCATION WITH APPROXIMATELY 6,980 UNDERGRADUATE AND 13,986 GRADUATE STUDENTS. THE UNIVERSITY INCLUDES THE FACULTY OF ARTS AND SCIENCES (HARVARD COLLEGE), THE JOHN A. PAULSON SCHOOL OF ENGINEERING AND APPLIED SCIENCES, THE DIVISION OF CONTINUING EDUCATION, TEN GRADUATE AND PROFESSIONAL SCHOOLS, THE RADCLIFFE INSTITUTE FOR ADVANCED STUDY, A VARIETY OF RESEARCH MUSEUMS AND INSTITUTES, AND AN EXTENSIVE LIBRARY SYSTEM TO SUPPORT THE TEACHING AND RESEARCH ACTIVITIES OF THE HARVARD COMMUNITY.
- $918.5 million spent. SPONSORED RESEARCH ACTIVITIES: THE RANGE OF RESEARCH ACTIVITIES AT HARVARD IS BROAD AND DEEP. HARVARD SCHOLARS CONDUCT RESEARCH IN ALMOST EVERY FIELD, AND SEEK TO EXPAND HUMAN KNOWLEDGE THROUGH ANALYSIS, INNOVATION, AND INSIGHT. AS REPORTED ON PART VIII, RESEARCH IS SUPPORTED BY FEDERAL GRANTS (LINE 1E), NON-FEDERAL SPONSORED GRANTS (LINE 1F) AND NON-FEDERAL SPONSORED CONTRACTS (LINE 2B). THE UNIVERSITY'S PRINCIPAL SOURCE OF FEDERAL SPONSORED FUNDS IS THE DEPARTMENT OF HEALTH AND HUMAN SERVICES. THE UNIVERSITY ALSO HAS MANY NON-FEDERAL SOURCES OF SPONSORED AWARDS, GRANTS, AND CONTRACTS, INCLUDING RESEARCH INSTITUTES, FOUNDATIONS, STATE AND LOCAL GOVERNMENTS, FOREIGN GOVERNMENTS, AND CORPORATIONS. SPONSORED GRANTS AND CONTRACTS NORMALLY PROVIDE FOR THE RECOVERY OF DIRECT AND INDIRECT COSTS.
- AMOUNTS AND NUMBER OF RECIPIENTS LISTED ARE ESTIMATES BASED ON THE BEST AVAILABLE DATA.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 1967.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.